Fusion Foundation announces the formation of the DCRM Alliance to oversee a new decentralized custody solution

14 Mar 2020

Crypto issuance platform Realio, token swap provider Totle, blockchain network Fantom, and the Karlsruhe Institute of Technology joined the Fusion Foundation, the organization behind the Fusion protocol, as the inaugural members of the alliance. The newly formed group also ran an early pilot of the decentralized custody solution, dubbed DCRM 5.0, on a testnet.

Why it matters:

Interoperability exploration continues to grow in relevance. Numerous blockchain projects, such as Syscoin and now Nervos Network, are crafting cross-network solutions to (1) break down data silos and (2) generate platform activity by connecting to chains with higher levels of adoption.

Fusion mentions institutional demand for MPC (multi-party computation) solutions, akin to its DCRM product, could be on the rise. It cites the funding raised by MPC-focused companies Fireblocks ($16 million) and Curv ($6.5 million) in 2019 as potential catalysts for this type of service.

On May 20, Forbes magazine published a publication entitled "DeFi is changing global finance faster than the US Federal Reserve can print money." This is one of the cases during the coronavirus pandemic when words are often heard that the world is changing dramatically, and new technological solutions are beginning to firmly enter the life of mankind. So, we are witnessing a restructuring of the global financial infrastructure, in which decentralized finance (DeFi) is beginning to play an increasingly important role.

Halving on the Bitcoin network has become one of the key events in the cryptocurrency market, which has fueled the interest not only of long-standing players, but also has caused the release of new ones. This is evidenced by recent data on the growing demand for crypto assets on top cryptocurrency exchanges such as Bithumb Global. For those who are just getting acquainted with the crypto-market and want to try their hand at trading a new class of assets, we will tell you what tools crypto-exchanges offer and how to use them in crypto-trading.